Eyepoint Pharmaceuticals (NASDAQ:EYPT) Hits New 12-Month High – What’s Next?

Shares of Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) reached a new 52-week high during trading on Saturday . The stock traded as high as $14.37 and last traded at $14.01, with a volume of 1915309 shares. The stock had previously closed at $11.88.

Analyst Ratings Changes

Several analysts have commented on the stock. Royal Bank Of Canada assumed coverage on shares of Eyepoint Pharmaceuticals in a research report on Tuesday, June 17th. They issued an “outperform” rating and a $28.00 target price for the company. Mizuho decreased their target price on shares of Eyepoint Pharmaceuticals from $30.00 to $26.00 and set an “outperform” rating for the company in a research report on Friday, May 16th. HC Wainwright boosted their target price on shares of Eyepoint Pharmaceuticals from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Finally, Chardan Capital restated a “buy” rating and issued a $27.00 price objective on shares of Eyepoint Pharmaceuticals in a research note on Thursday, August 7th. Seven equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $26.86.

Eyepoint Pharmaceuticals Price Performance

The stock’s 50 day moving average price is $10.71 and its two-hundred day moving average price is $8.07. The firm has a market capitalization of $965.71 million, a price-to-earnings ratio of -5.23 and a beta of 1.93.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.18). The firm had revenue of $5.33 million during the quarter, compared to analyst estimates of $6.82 million. Eyepoint Pharmaceuticals had a negative return on equity of 63.80% and a negative net margin of 337.93%. As a group, equities research analysts anticipate that Eyepoint Pharmaceuticals, Inc. will post -2.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Eyepoint Pharmaceuticals

Several large investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC raised its stake in Eyepoint Pharmaceuticals by 218.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,700 shares of the company’s stock valued at $82,000 after purchasing an additional 5,967 shares during the last quarter. Corient Private Wealth LLC acquired a new position in Eyepoint Pharmaceuticals during the 2nd quarter valued at $1,200,000. Man Group plc raised its stake in Eyepoint Pharmaceuticals by 400.9% during the 2nd quarter. Man Group plc now owns 72,682 shares of the company’s stock valued at $684,000 after purchasing an additional 58,173 shares during the last quarter. BNP Paribas Financial Markets raised its stake in Eyepoint Pharmaceuticals by 94.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 172,446 shares of the company’s stock valued at $1,623,000 after purchasing an additional 83,666 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in Eyepoint Pharmaceuticals by 8.5% during the 2nd quarter. Bank of America Corp DE now owns 814,153 shares of the company’s stock valued at $7,661,000 after purchasing an additional 63,941 shares during the last quarter. 99.41% of the stock is currently owned by institutional investors and hedge funds.

About Eyepoint Pharmaceuticals

EyePoint Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, engages in developing and commercializing therapeutics to improve the lives of patients with serious retinal diseases. The company's pipeline leverages its proprietary bioerodible Durasert E technology for sustained intraocular drug delivery.